Ecommerce logistics startup Locad has raised $9 Mn (around INR 76 Cr) in a Pre-Series B funding round co-led by Global Ventures and existing investor Reefknot Investments
The company looks to deploy the fresh proceeds to expand its overseas footprint and scaling up its AI-driven smart logistics stack
The startup also counts Antler, Hustle Fund, Foxmont Capital Partners, Access Ventures and Kaya Founders among other investors
Ecommerce logistics startup Locad has raised $9 Mn (around INR 76 Cr) in a Pre-Series B funding round co-led by Global Ventures and existing investor Reefknot Investments.
The round also saw participation from Sumitomo Equity Ventures and existing investors Antler Elevate, Febe Ventures and JG Summit.
The company looks to deploy the fresh proceeds to expand its overseas footprint and scaling up its AI-driven smart logistics stack.
Founded in 2020 by Constantin Robertz, Jannis Dargel and Shrey Jain, Locad offers cloud supply chain to ecommerce brands to grow their omnichannel business and automatically store, pack, ship and track orders.
The company claims to support more than 300 consumer brands across Southeast Asia and Australia, providing smart digital logistics solutions to boost operational efficiency and customer experience.
The startup also counts Antler, Hustle Fund, Foxmont Capital Partners, Access Ventures and Kaya Founders among other investors.
“We are now excited to take Locad global, opening our presence in the US and entering the GCC, to make it easier for brands to sell anywhere with a fully localized customer experience,” Robertz said.
Meanwhile, Jain added, “This fundraise allows us to double down on building a robust, tech-enabled logistics ecosystem that drives efficiency and helps brands thrive in an increasingly dynamic commerce landscape.”
The development comes at a time when investor interest has been growing in logistics service providers experimenting with AI and are willing to back their expansion plans.
For instance, in July, supply chain planning and logistics startup 3SC secured $4 Mn funding to boost its existing artificial intelligence tech stack and scale operations globally.
In the same month, Bengaluru-based digital freight brokerage platform Lobb raised $2.9 Mn in an extended Pre-Series A funding round to accelerate its technology-led growth and expand reach.
Earlier in June, Delhi NCR-based logistics startup Ecom Express was in talks with its existing investors to raise a funding of about INR 350-400 Cr, aiming to double down on reverse logistics and same-day delivery.
